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Home»DeFi»Babylon Enables Native Bitcoin Collateral in DeFi: Finance Redefined
DeFi

Babylon Enables Native Bitcoin Collateral in DeFi: Finance Redefined

October 21, 2025No Comments
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Bitcoin infrastructure company Babylon Labs has claimed to have developed a system to use native Bitcoin as collateral to borrow assets on Ethereum.

David Tse, co-founder of Babylon Labs and professor at Stanford University, said Wednesday that the company has built a proof of concept that allows native Bitcoin to be used “trustlessly” as collateral for loans on Ethereum.

The comments follow a white paper released by the company, revealing a trustless Bitcoin vault system that leverages BitVM3 Bitcoin smart contract verification to lock BTC in vaults on a per-user basis. Here, withdrawals are limited by evidence of the external smart contract state verified on Bitcoin.

This system allows users to lock Bitcoin and bring it to Ethereum without relying on a custodian or bridge.

A diagram of the Bitcoin vault-based lending system. Source: Babylon Laboratories

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BNB Chain Sees Record User Activity, Transactions Up 151% in 30 Days

Daily active addresses on BNB Chain hit an all-time high on Monday, as the network’s native crypto token hit a new price record.

According to Nansen, active sender-only addresses on the blockchain reached a record 3.46 million on Monday, surpassing its previous peak of 3.44 million in December 2023.

The data analytics platform also showed that over the past 30 days, BNB Chain’s successful transactions reached 500 million, an increase of 151% compared to the previous 30-day period. This places the network second behind Solana, which holds the top spot for transactions.

In terms of active wallet addresses, BNB Chain ranks third with almost 200 million active addresses during this period. This record brings it closer to surpassing the Layer 2 network baseline.

Addresses that sent a transaction on BNB Chain. Source: Nansen

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Hyperliquid now allows anyone to deploy perpetual futures, for a price

Decentralized exchange Hyperliquid has introduced a new update that allows third parties to launch their own perpetual swap contracts on its platform.

On Monday, Hyperliquid Improvement Proposal 3 (HIP-3) took effect, allowing permissionless, builder-deployed perpetual futures to be listed.

This update allows anyone who has staked 500,000 HYPE tokens, or approximately $20 million, to deploy their own perp exchange contract with independent margins, order books and settings.

Deployers can set a fee share of up to 50% on top of the base rate and will define markets, including Oracle and contract specifications. They will also set oracle prices, leverage limits and settle if necessary.

Discord message announcing the upgrade. Source: Hyperliquide

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Uniswap Adds Solana Support to Web App in $140 Billion Opportunity

Uniswap has added support for the Solana network to its web application, allowing Solana users to link their wallet and swap Solana-based tokens with those from other networks.

In a blog post, the DEX said it is exploring bridges, cross-chain swaps, and full Uniswap Wallet support for the network. Transactions made through the web application will be routed through the DEX Jupiter aggregator.

A Uniswap engineer said the team did not specifically build the integration for Solana, but rather designed platform-agnostic “architect layers.”

Danny Daniil, head of sales engineering at Uniswap, said the launch of Solana will help Unichain, a layer 2 network created by Uniswap Labs, become the “best chain” for trading.

Source: Uniswap Labs

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DeFi Market Overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.

A token called BNB Attestation Service (BAS) saw a 456% gain, becoming the biggest gainer of the week after hitting a new all-time high on Thursday. The token was followed by Nockchain (NOCK), which saw 379% gains last week.

Total value locked in DeFi. Source: DéfiLlama

Thank you for reading our summary of this week’s most notable DeFi developments. Join us next Friday for more stories, ideas and information about this dynamically evolving space.